Hi , recently IT department has conducted survey at my friend place. His father is uneducated and had not maintained any accounts. what are the rules to calculate Tax laibility based on revenue when there are no books.
pavan (self employed) (23 Points)
06 January 2020Hi , recently IT department has conducted survey at my friend place. His father is uneducated and had not maintained any accounts. what are the rules to calculate Tax laibility based on revenue when there are no books.
RAJA P M
("Do the Right Thing...!!!")
(127167 Points)
Replied 06 January 2020
pavan
(self employed)
(23 Points)
Replied 07 January 2020
Sir, Income is from real estate business.income is calculated from the registered documents. is there any clause in act that we should offer certain percentage of revenue as Tax if books ( development costs) are not maintained?
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